DR Bank is looking forward to a great time at the Darien Sidewalk Sale this weekend! Make sure to stop by our Darien location and say hi! #drbank #darien #rowayton #bank #checkingaccount #personalbanking #localbank #savingsaccount #smallbanking #communitybank #money #finance #banking
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On 27th June 2024, the Supreme Court decided that interest rates on loans and facilities provided by banks and financial institutions are subject to section 44 of the Banking Act. In light of the delegation, by the Minister of Finance, of the powers vested in him under section 44 of the Banking Act to the Governor of the Central Bank of Kenya (CBK), banks are required to seek prior approval from the CBK Governor before increasing interest rates on loans and credit facilities advanced to their customers. Our partners, Kiragu Kimani SC, Sigee Koech, and Lawson Ondieki, have reviewed the judgment and given their views on the effect of the decision. #DentonsHHM #LegalAlert #BankingLaw
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Legal Alert | Supreme Court's Landmark Decision on Interest Rates The Supreme Court of Kenya has made a landmark ruling on interest rates imposed by banks. In the case of Stanbic Bank Kenya Limited v Santowels Limited, the Court held that banks must seek approval from the Cabinet Secretary for Finance before increasing interest rates, as per Section 44 of the Banking Act. This decision is set to reshape the commercial lending landscape, protecting borrowers from exploitative rates and potentially triggering new litigation. For an in-depth analysis, read our latest article below. Stay informed. #LegalUpdate #BankingLaw #SupremeCourt #InterestRates #KenyaLaw
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Variation of interest rates between Banks and Customers can lead to exorbitant amounts being paid in interest. The Supreme Court finally settled the question on the procedure to be followed before interest rates are varied, in compliance with the Banking Act. Enjoy the read. https://lnkd.in/dTaQNi7y
AL INSIGHTS | Numerous disputes have arisen in courts involving customers of banks and financial institutions over excessive interest rates. As a result, many customers struggle to repay their loans due to the high-interest charges. This issue was evident in the case of Santowels Limited vs. Stanbic Bank Kenya Limited. The variation of interest rates has long been a contentious topic. The key question before the courts was whether banks require approval from the Cabinet Secretary to adjust interest rates. In this article, we will clarify the procedures that banks must follow before changing interest rates.
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AL INSIGHTS | Numerous disputes have arisen in courts involving customers of banks and financial institutions over excessive interest rates. As a result, many customers struggle to repay their loans due to the high-interest charges. This issue was evident in the case of Santowels Limited vs. Stanbic Bank Kenya Limited. The variation of interest rates has long been a contentious topic. The key question before the courts was whether banks require approval from the Cabinet Secretary to adjust interest rates. In this article, we will clarify the procedures that banks must follow before changing interest rates.
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𝐔𝐧𝐯𝐞𝐢𝐥𝐢𝐧𝐠 𝐭𝐡𝐞 𝐏𝐨𝐰𝐞𝐫 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐁𝐚𝐧𝐤𝐢𝐧𝐠! Excited to share the CASA Ratios of the Top 5 Public Banks as of 31st December, 2023 : 𝐁𝐚𝐧𝐤 𝐎𝐟 𝐌𝐚𝐡𝐚𝐫𝐚𝐬𝐡𝐭𝐫𝐚- 𝟓𝟎.𝟐% 𝐂𝐞𝐧𝐭𝐫𝐚𝐥 𝐁𝐚𝐧𝐤 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚 - 𝟒𝟗% 𝐁𝐚𝐧𝐤 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚 - 𝟒𝟑.𝟗% 𝐈𝐧𝐝𝐢𝐚𝐧 𝐎𝐯𝐞𝐫𝐬𝐞𝐚𝐬 𝐁𝐚𝐧𝐤 - 𝟒𝟑.𝟓% 𝐏𝐮𝐧𝐣𝐚𝐛 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐁𝐚𝐧𝐤 - 𝟒𝟐.𝟓% Dive into the financial world with these top contenders! 🚀💼 #banks #bankingindustry #banking #finance #financenews #financeeducation #insights
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Start saving early this year. Need a savings account, come to Nsutaman RURAL BANK. #nsutamanruralbank #newyearsresolutions #midweek #ruralbanking #savings #financialservices #associationofruralbanksghana #lexbertmultimedia #microwatchm
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Why should we be against the My Account project that the ninth cabinet and Masrour Barzani are advocating? 1. Because it contains four private banks, including RT Bank and BBAC Bank which are owned by Prime Minister Masrour Barzani. The prime minister cannot use his position to enrich a bank he owns. 2. Forcing more than one million government employees to open bank accounts in these private banks is against human rights principles. 3. In this way, the government employees will not be free and will be subject to the new conditions and additional fees that will be imposed upon them by these private banks. 4. This process is national, and the banks must be national. The private banks owned by the authorities cannot be enriched at the expense of a national process. #powerabuse #KRG #KRI #UNAMI #UNDPIraq
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Consultor na Caixa Econômica Federal; Basel III; Regulatory Capital; Capital Planning; Risk Management; Bank Accounting, Pillar III Disclosure; Capital Ratio; Stress Testing
More than 1000 pages summarized in 22!! Great synopsis about U.S. Basel III endgame! It brings not only the main changes, but the basic conceps about capital management, such as "capital buffers" and the Pillar I risk weighted assets (RWA)! Worth a read. Thanks for sharing, Matthew Bisanz !!
Great summary of current and proposed bank capital regulation. Excellent entry point for new entrants (voluntary and involuntary). #baselIII #financialregulation
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Happy Raksha Bandhan... This Raksha Bandhan, Gift Financial Security for Your Sibling .. #rakhi #rakshabandhan #happyrakshabandhan #rakhshabandhan2024 #rakhipurnima #financialplanning #financialadvisory #finance #financialfreedom #personalfinance #wealthmanagement #wealthcreation #invest #investment #investments #money #savingsgoals #mutualfunds #mutualfund #mutualfundssahihai #equity #stocks #bonds #insurance #tax
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In the case of Stanbic Bank Kenya Limited Vs. Santowels Limited, the Supreme court ruled that banks and other financial institutions require approval from the Cabinet Secretary of Finance before increasing interest rates on loans. Read more on the implications of the ruling and possible industry adaptations in our article https://lnkd.in/dz73ATd7
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